Markets hit fresh record high: Nifty tops 21,650, Sensex jumps over 750 points

The NSE barometer, Nifty 50, on Wednesday crossed 21,650 level for the first time. The index jumped 234.4 points to hit its lifetime high of 21,675.75. The 30-share BSE Sensex pack surged 783.05 points to hit a record high of 72,119.85.

The fresh upward move was supported by gains in state-owned lenders, metals and automobile stocks.

Mid- and small-cap shares were mixed as Nifty Midcap 100 climbed 0.23 per cent and small-cap shed 0.05 per cent. India VIX, fear index, rose 4.71 per cent to 15.37-level.

12 out of the 15 sector gauges -- compiled by the NSE -- were trading in the green today. Sub-indexes Nifty PSU Bank, Nifty Metal and Nifty Auto were outperforming the NSE platform by rising as much as 1.44 per cent, 0.90 per cent and 0.93 per cent, respectively.

On the stock-specific front, UltraTech Cement was the top gainer in the Nifty pack as the stock surged 4.10 per cent to trade at Rs 10,429.85. Hindalco, Bajaj Auto, Tata Motors and Grasim Industries gained up to 3.48 per cent.

In contrast, Britannia Industries, NTPC, Tech Mahindra, ONGC and Adani Enterprises were among the top laggards.

"Investors should give priority to high quality bluechips which are doing well and have good earnings visibility. A correction in the broader market is inevitable," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

On the 30-share BSE index, frontline stocks such as HDFC Bank, Bharti Airtel, Infosys, Tata Motors, L&T and State Bank of India (SBI) were among the top gainers.

Also, shares of 3M India, Bharat Dynamics Ltd, Brigade Enterprises, Sona BLW Precision Forgings Ltd, HEG Ltd, Kansai Nerolac Paints Ltd and Dalmia Bharat ascended by up to 6.77 per cent. On the flipside, Eureka Forbes, Motilal Oswal Financial Services, Caplin Point Labs, Gujarat Pipavav Port and Sterling and Wilson Renewable Energy Ltd slipped up to 3.46 per cent.

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